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Biotel Inc. (BTEL.PK) Announces Profitable First Quarter Ended September 30, 2008
11/20/2008
MINNEAPOLIS, Nov. 17 /PRNewswire-FirstCall/ -- Biotel Inc. announced results for its first quarter ended September 30, 2008, with net earnings of $328,000, or $0.11 per diluted share, on revenues of $3,168,000. This compares to net earnings of $170,000, or $0.06 per diluted share, on revenues of $2,751,000 for the first quarter of last year. "With strong revenues and good margins in the first quarter of our 2009 fiscal year, our result was exceptionally strong bottom line performance," Biotel President and CEO Steve Springrose said. "Sales of the Braemar ER920W wireless arrhythmia monitor introduced in the fourth quarter of fiscal year 2008 exceeded our expectations as one of our OEM partners ordered significant quantities of stocking units for inventory and product launch. We expect sales to this customer to continue into the second quarter, but to slow significantly in the second half. Sales of Braemar Holter devices, event recorders, liposuction equipment, other medical devices and Agility clinical services remained solid. Having received FDA 510(k) approval of our Fusion platform of wireless ECG monitoring products, we are moving steadily toward introduction of our first Fusion product early in calendar 2009. Biotel serves as a development partner to medical corporations seeking new devices and clinical research services." CONTACT: Judy Naus of Biotel Inc., +1-651-286-8623, info@biotelinc.com Web site: http://www.biotelinc.com/
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